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Market Updates

Kitchener – Waterloo real estate market recap: April 2020

By May 5, 2020No Comments

In April, home sales in Kitchener-Waterloo were down 63.6% compared to April 2019.

 

“It goes without saying the current pandemic has had a major impact on the number of sales we would normally see in April…With everyone doing their part to flatten the curve and doing their best to self-isolate, the buying and selling of homes have been greatly reduced.”

Colleen Koehler, President of KWAR

 

 

April Sales Breakdown:

  • 145 Detached Home Sales
  • 22 Condominium Sales
  • 44 Freehold Townhouse Sales
  • 16 Semi-Detached Home Sales

The average sale price of all residential properties sold in April increased by 7.3% to $568,738 compared to April 2020.

Average Home Price:

  • $657,042 Detached Homes
  • $367,230 Apartment-Style Condominiums
  • $406,463 Townhomes
  • $491,816 Semis

It took an average of 19 days to sell a home in April, compared to 21 days in April 2019.

Market recap from Colleen Koehler, President of KWAR:

“It has been a strong sellers’ market for the past few years with buyers competing for a scare number of listings…We have witnessed some buyers expecting homes to sell at greatly reduced amounts, and frankly, that’s simply not the case. Home values have remained stable which we expect will continue.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Find more information about the Kitchener-Waterloo real estate market here.

Source: kwar.ca/april-home-prices-strong/

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